The Minister of Energy spoke about Azerbaijan's 25-year achievements in the United States



The Minister of Energy of Azerbaijan Parviz Shahbazov made a speech at the “Contract of the Century: Building on 25 Years of Success” forum, organized by the Caspian Policy Centre in Washington and with the participation of senior US government officials.

The Minister spoke about the geopolitical and geoeconomic significance of the “Contract of the Century”, signed in a very difficult period thanks to the determination of the national leader Heydar Aliyev, turning our country into the author of transnational energy and communication projects, a reliable partner in ensuring global energy security, ensuring international cooperation and long-term development in The Caspian Sea. As achievements over 25 years, it was noted the attraction of new technologies in the country's oil sector, more than $ 100 billion of investments, the development of new oil and gas projects, the generation of revenues of more than $ 146 billion and the direction of oil revenues on social issues, the welfare of the people, the development of human capital and the economy. It was noted that the contributions of the contract on the Azeri-Chirag-Guneshli fields, which have already produced 496 million tons of oil and 163 billion cubic meters of gas, are not limited for a century. This historic treaty, which has gained the status of a "two-century treaty" with a further extension of 30 years, will continue to play an important role in the development of Azerbaijan and in the strengthening of its relations with international partners in the future.  

“These consistent results of the“ Contract of the Century ”strengthen Azerbaijan’s steps towards the Sustainable Development Goals (SDGs),” said Minister Parviz Shahbazov. At the same time, a deep reform course led by President Ilham Aliyev provides strong support for the country's comprehensive and sustainable development in the future.”

The Minister of Energy highly appreciated the partnership with the foreign energy companies and the continued support of the United States in the implementation of Azerbaijan's energy policy course. Highlightng that the energy sector has always been of strategic importance in relations with the USA, the Minister said that the United States has been a strong partner in all of Azerbaijan's energy initiatives: "The US strong political support also played an important role in the implementation of the “Southern Gas Corridor” global energy security project. The Southern Gas Corridor, as stated by US President Donald Trump, is the pinnacle of our energy cooperation. The following year, with the full commissioning of the “Southern Gas Corridor”, we will achieve the next success of our cooperation,” the Minister added

It should be noted that Assistant Secretary of State for Energy Resources (ENR) Francis Fannon, U.S. Under Secretary of Energy Mark Menezes, other high-ranking officials of the countries of the Caspian region and energy companies took part at the event.

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